Lee Johnson Capital Management LLC Increases Position in Tesla, Inc. $TSLA

Key Points

• Lee Johnson Capital Management LLC increased its stake in Tesla by 28.3% in the second quarter, now holding 18,158 shares which constitutes 2.0% of its investment portfolio.
• Tesla's most recent earnings report showed $0.40 EPS, missing expectations and marking an 11.8% decrease in year-over-year revenue to $22.50 billion.
• Despite recent fluctuations, Tesla has a market capitalization of $1.48 trillion, with analysts offering target prices ranging from $337.15 to $600.00 for the stock.

Lee Johnson Capital Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,158 shares of the electric vehicle producer's stock after purchasing an additional 4,005 shares during the quarter. Tesla accounts for 2.0% of Lee Johnson Capital Management LLC's investment portfolio, making the stock its 14th largest position. Lee Johnson Capital Management LLC's holdings in Tesla were worth $5,768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla in the 1st quarter valued at about $27,000. Finally, Chelsea Counsel Co. increased its holdings in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Tesla stock opened at $444.72 on Wednesday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The stock has a market capitalization of $1.48 trillion, a P/E ratio of 257.06, a P/E/G ratio of 15.46 and a beta of 2.06. The firm's 50-day moving average is $356.59 and its two-hundred day moving average is $317.64. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business earned $0.52 earnings per share. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. Insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. China Renaissance restated a "hold" rating and set a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Wedbush raised their target price on shares of Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a report on Friday, September 26th. Bank of America raised their target price on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Finally, Baird R W upgraded shares of Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $337.15.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.